This bill proposes a property tax rebate program specifically for disabled veterans in New Jersey who have been honorably discharged from the Armed Forces and possess a service-connected disability recognized by the United States Department of Veterans Affairs. The rebate will be calculated based on the percentage of service-connected disability, with a maximum rebate capped at $5,000. For veterans living in rental properties or mobile homes, 18% of the rent or site fee paid during the tax year will be considered as property taxes paid. Eligibility for the rebate is limited to individuals with a gross income not exceeding $200,000, and the bill outlines an application process that requires annual submissions of relevant documentation.

The bill also assigns the Director of the Division of Taxation the responsibility of determining eligibility and rebate amounts, with provisions for appeals to the New Jersey Tax Court in case of disputes. It includes measures to withhold rebate payments for property owners with tax delinquencies and mandates tax collectors to report delinquent taxpayers to the director. Furthermore, the funding for the rebate program will depend on annual appropriations by the Legislature, and the director is authorized to establish regulations to facilitate the program's implementation, which will remain effective for up to 18 months from the date of filing. The act is set to take effect immediately upon passage.